Julie Wainwright’s Leadership Journey: A Memoir of Triumph and Trials
In her memoir, Time to Get Real, Julie Wainwright shares her experiences as a leader who has navigated the turbulent waters of the tech industry. Known for taking two companies public, Wainwright’s narrative goes beyond mere success, revealing the challenging realities leaders often face but seldom discuss openly.
The Rise and Fall: Pets.com
Wainwright first garnered attention with her leadership at Pets.com, an online pet supply retailer that became famous during the dot-com bubble. With a beloved sock puppet mascot and the catchy slogan, “Because pets can’t drive,” the company was a household name. However, its rapid rise was followed by a swift collapse. After going public in 2000, Pets.com shut its doors later that same year amidst the market crash, marking a significant setback for Wainwright.
Recalling the aftermath, Wainwright noted, “When I would talk to recruiters, it was like, ‘No one’s going to hire you anymore.’” This dismissal was particularly painful given her earlier success as a rising star in a male-dominated tech landscape, including her time leading Berkeley Systems and Reel.com.
A Personal Crisis
Compounding her professional challenges, Wainwright faced personal turmoil on the same day she informed her team about Pets.com’s closure. Her husband’s request for a divorce compounded her feelings of loss. “My work is gone, I’m getting a divorce, and I don’t have children,” she recalled, as she confronted what felt like a total collapse of her life.
The Turnaround: Founding The RealReal
Despite these setbacks, Wainwright embarked on a successful second chapter by founding The RealReal in 2010, a luxury consignment retailer that revolutionized the online resale market. Starting from her home, The RealReal has significantly expanded, currently processing hundreds of thousands of luxury items each month across its extensive warehouse spaces. In 2019, Wainwright once again took a company public, navigating the traditional IPO process for The RealReal.
Challenges as a CEO
However, Wainwright’s journey was not without further difficulties. In 2022, she was unexpectedly ousted from The RealReal by board members she had personally recommended. She described this maneuver as a “power play” by one investor who sought control over the company. Despite this, Wainwright expressed her continued support for the current CEO, emphasizing the importance of transparency in her narrative.
Insights and Wisdom
What sets Wainwright’s memoir apart is her candidness, particularly in sharing insights and lessons learned throughout her career. She reflects on leadership decisions, including her approach to incentivizing sales teams and her experiences with various executive types, particularly identifying a “dumb aggressive” executive as a pitfall. Such transparency makes her guidance valuable for current and aspiring leaders alike.
Looking Ahead
Currently, Wainwright is exploring new opportunities with Ahara, a company focusing on personalized nutrition based on genetics. Her entrepreneurial spirit continues to thrive, aiming to empower others through her experiences and insights.
For those interested in a genuine look at leadership filled with both triumphs and challenges, Wainwright’s Time to Get Real is a compelling read that offers invaluable lessons for entrepreneurs. “I personally wrote it for entrepreneurs to give them a realistic view and hopefully inspire them,” she stated in a recent interview.
You can listen to the full conversation with Wainwright on TechCrunch’s StrictlyVC Download podcast and explore her memoir for more insights into her remarkable journey.
